MIRA INFORM
REPORT
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Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
LIN’AN HALLMARK TRADE CO., LTD. |
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Registered Office : |
Room 322, Block-15a, Lin’an Business Center, Jincheng Street, Lin’an City, Zhejiang Province, 311300 PR |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
27.04.2006 |
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Com. Reg. No.: |
330185000006710 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Exporting Mechanical Equipment. |
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No. of Employees : |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
LIN’AN HALLMARK TRADE CO., LTD.
ROOM 322, BLOCK
LIN’AN CITY,
15A 322
TEL: 86 (0)
571-63808292 FAX: 86 (0)
571-23615017
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 27, 2006
REGISTRATION NO. : 330185000006710
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 9
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE : TRADING
TURNOVER : CNY 14,180,000 (AS OF DEC. 31, 2009)
EQUITIES : CNY 340,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.65 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on April 27, 2006.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered
business scope includes import and export of goods (with permit if needed);
machinery and equipment installation, maintenance; mechanical equipment
installation technical advisory services.
SC is mainly
engaged in exporting mechanical equipment.
Ms. Zhu Lingyu is the legal representative and chairman of SC
at present.
SC is known to have approx. 9 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office and head office in the commercial zone of
Lin’an. Our checks reveal that SC rents the total premise about 130 square
meters.
SC is not known to host website of its own at present.
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Zhu Lingyu 90
ID#: 330124197904293526
Tong Qiulian 10
ID#: 330124520531352
l
Legal representative and chairman:
Ms. Zhu Lingyu, born in 1979. She is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in
SC is mainly
engaged in exporting mechanical equipment.
Main Products:
large and small woodworking machinery and equipment, etc.
SC sources its materials 100%
from domestic market. SC sells 100% of its products to overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
SC
is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
Bank of
AC#：N/A
Relationship:
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
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Cash & bank |
640 |
2,120 |
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Inventory |
220 |
0 |
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Accounts
receivable |
-240 |
5,340 |
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Advances to
suppliers |
3,540 |
2,530 |
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Other
receivables |
1,240 |
180 |
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Other current
assets |
10 |
10 |
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------------------ |
------------------ |
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Current assets |
5,410 |
10,180 |
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Fixed assets net
value |
140 |
490 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
5,550 |
10,670 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
1,950 |
2,580 |
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Advances from
customers |
2,660 |
7,410 |
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Accrued payroll |
10 |
0 |
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Taxes payable |
10 |
-50 |
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Other payable |
560 |
380 |
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Other current
liabilities |
0 |
10 |
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------------------ |
------------------ |
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Current
liabilities |
5,190 |
10,330 |
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Long term
liabilities |
0 |
0 |
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------------------ |
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Total
liabilities |
5,190 |
10,330 |
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Equities |
360 |
340 |
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------------------ |
------------------ |
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Total
liabilities & equities |
5,550 |
10,670 |
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============= |
============= |
Income Statement
Unit: CNY’000
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as of Dec. 31,
2009 |
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Turnover |
14,180 |
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Cost of goods
sold |
11,990 |
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Taxes and additional of main operation |
0 |
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Sales expense |
1,770 |
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Management expense |
410 |
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Finance expense |
40 |
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Profit before
tax |
-20 |
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Less: profit tax |
0 |
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Profits |
-20 |
Important Ratios
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as of Dec. 31, 2008 |
as of Dec. 31, 2009 |
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*Current ratio |
1.04 |
0.99 |
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*Quick ratio |
1.00 |
0.99 |
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*Liabilities
to assets |
0.94 |
0.97 |
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*Net profit
margin (%) |
/ |
-0.14 |
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*Return on
total assets (%) |
/ |
-0.19 |
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*Inventory
/Turnover ×365 |
/ |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
138 days |
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*Turnover/Total
assets |
/ |
1.33 |
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* Cost of
goods sold/Turnover |
/ |
0.85 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line in
2009.
l
SC’s net profit margin is fair in 2009.
l
SC’s return on total assets is fair in 2009.
l
SC’s cost of goods sold is average in 2009,
comparing with its turnover.
LIQUIDITY: AVERAGE
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The current ratio of SC is maintained in a normal
level in both 2 years.
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SC’s quick ratio is maintained in a normal level in
both 2 years.
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There is no inventory of SC in 2009.
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The accounts receivable of SC appears large in
2009.
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SC has no short-term loan in both 2 years.
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SC’s turnover is in an average level in 2009,
comparing with the size of its total assets.
LEVERAGE: FAIR
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The debt ratio of SC is HIGH in both 2 years.
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The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial conditions.
The large amount of accounts receivable could be a threat to SC’s financial
condition. A credit line up to USD 1,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.23 |
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1 |
Rs.84.16 |
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Euro |
1 |
Rs.68.84 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.